A Fylde coast hotel family have sold off one of the best known businesses in town.
A North West hotel group has acquired the Limdum Hotel in St Annes as part of its expansion plans.
HY Hotels has acquired the South Promenade, hotel from the Rowley Family.
The hotel group operates seven sites in total including the nearby Howarth House Hotel and aparthotel, and Chadwick Hotel in St Annes; Manchester’s Ainscow Hotel and The Block serviced apartments in Liverpool.
The Lindum Hotel was operated by the Rowley family for more than 50 years, and has 80 en-suite bedrooms, a restaurant and function rooms.
HY Hotels owner Dan Yates revealed that the purchase is part of plans to expand in the North West, with further acquisitions likely in Blackpool and nearby Preston.
Legal advice was provided on the transaction by David Hill, partner in the Commercial Property team at regional law firm Napthens.
Funding advice was supplied by a team from NatWest, led by John Platt, relationship director, and accountancy services by RSM.
David Hill of Napthens said: “The Lindum Hotel has been a popular venue on the Fylde Coast for generations, and this acquisition will continue that history.”
Dan Yates added: “We saw this as a great acquisition to complement both businesses.
“We’re now working with the former owners to plan an easy transaction to secure the future of both the hotel and the staff employed there, and take it onto new levels of success.
“We’ve got some great plans for the hotel and believe it will continue to attract visitors to the Fylde Coast for years to come.
“HY Hotels has grown well over the past couple of years and the senior management team is now looking at sites in Blackpool, Preston and further afield.”
John Platt, of NatWest, said: “HY Hotels has an excellent portfolio of hotels across the North West and this latest acquisition enhances their offering. We wish Dan and HY Hotels every success for the future.”